R&Q Insurance Holdings Ltd (AIM-RQIH) ("R&Q" "the Group") today provides an update on discussions with The Bermuda Monetary Authority ("BMA"), the Group's principal insurance regulator.
R&Q has, over recent months, engaged closely with the BMA regarding the future strategy for R&Q Legacy, given the proposed sale of Accredited ("the Sale"). As part of these discussions the BMA has requested an independent actuarial review of the required reserves of the remaining Group post the Sale, its capital and its cash flow projections.
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